SINGAPORE, Aug 15 (Reuters) - Chicago corn slid more than 1% on Tuesday and soybeans fell after a weekly report from the U.S. government showed better-than-expected condition of both crops.
Wheat fell for a third consecutive session on increasing estimates for Russia's production and exports.
FUNDAMENTALS
* The most-active soybean contract on the Chicago Board of Trade (CBOT) lost 0.7% to $13.17 a bushel, as of 0007 GMT, and corn fell 1% to $4.82-3/4 a bushel. Wheat gave up 0.6% to $6.12-1/2 a bushel.
* Weekly condition ratings for the U.S. soybean and corn crops improved in the past week more than analysts expected, U.S. government data showed on Monday.
* The U.S. Department of Agriculture's (USDA) weekly crop progress report rated 59% of the corn crop as good to excellent, up from 57% a week ago, while 11 analysts surveyed by Reuters on average had expected an improvement of 1 percentage point.
* The USDA also rated 59% of the soybean crop as good to excellent, a jump from 54% last week.
* Markets' muted reaction to Russia's weekend warning shots indicated traders were waiting to see actual disruptions to Black Sea grain exports before reacting, analysts said.
* Officials are worried escalating tensions between Russia and Ukraine could threaten crop shipments since Moscow quit the U.N.-brokered Black Sea grain export deal last month.
* The Russian military boarded the Palau-flagged cargo vessel before it continued on its way, Russia's defense ministry said.
* Merchant ships remained backed up in lanes around the Black Sea on Monday as ports struggled to clear backlogs amid growing unease among insurers and shipping companies a day after a Russian warship fired warning shots at a cargo vessel.
* Russian wheat export prices extended gains last week amid ongoing geopolitical tensions, with record weekly shipments.
* The price of 12.5%-protein Russian wheat scheduled for free-on-board (FOB) delivery at the beginning of September was $250 per metric ton last week, up from $248 a week earlier, the IKAR agriculture consultancy reported.
* Brazilian farmers had harvested 71% of the area planted for their second corn crop in the center-south region by Aug. 10, consultancy AgRural said on Monday, up 7 percentage points from the previous week.
* The USDA on Monday said exporters sold 416,000 metric tons of U.S. soybeans to unknown destinations.
* Commodity funds were net buyers of CBOT soybean, soymeal and soyoil futures contracts on Monday, traders said. Funds were net sellers of CBOT wheat futures and net even in corn futures, traders said.
MARKET NEWS
* The U.S. dollar hit its highest levels in more than a month on Monday amid worries over China's economy, while Wall Street struggled for any clear picture ahead of fresh data on consumer appetite.
DATA/EVENTS (GMT) 0200 China Urban Investment (YTD) YY July 0200 China Retail Sales YY July 0200 China Unemp Rate Urban Area July 0600 UK Claimant Count Unem Chng July 0600 UK ILO Unemployment Rate June 0600 UK HMRC Payrolls Change July 0900 Germany ZEW Economic Sentiment Aug 0900 Germany ZEW Current Conditions Aug 1000 EU Reserve Assets Total July 1230 US Import Prices YY July 1230 US Retail Sales MM July (Reporting by Naveen Thukral; Editing by Subhranshu Sahu)
